Chicago Mercantile Exchange grain prices fell on Monday July 8, with the August CME soybean futures contract decreasing by 17.25 cents per bushel to settle at $11.49 per bu and August soymeal dropping by $7.20 per short ton to $350 per ton.

Meanwhile, the September CME corn futures contract declined by 17.25 cents per bu to $3.93 per bu, and September wheat futures fell by 20 cents per bu to close at $5.70 per bu.

Wheat futures plummeted as winter wheat harvest progressed. Expectations for sizable corn and soybean production pushed prices down, despite some recent severe weather conditions in the western Corn Belt.

Distillers’ dried grain (DDG) prices declined in most regions on Monday, while the Illinois market was steady. Market participants noted a lack of support, with prices drifting lower due to pressure from corn futures during the day.

Weekly export inspections

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